Resolving Disputes - A New Approach
Recently two clients, one a tenant, another a landlord, asked me to prepare an appraisal of the rent that was applicable on their office building. Of course, I had to decline both.
BUT, I suggested that I could do an appraisal that could determine the rate for them. Both sides wanted:
- To have a say;
- To be comfortable with the conclusion.
I developed the following process:
- Each party made a presentation to the arbitrator;
- Arbitrator asked questions and undertook his own research;
- DRAFT report was prepared by the arbitrator/appraiser;
- Hearing to comment on the report and issues they disagreed with was held;
- Final report completed;
- Decision binding.
The concept was significantly cheaper and both sides had an opportunity to comment on the possible outcome.
Why is that important? I recently was involved in an arbitration where the arbitrator was completely off track, showing a total misunderstanding of the issues. We had no opportunity to redirect him.
If this approach does not suit you, even though it is more cost effective, I can act as the Arbitrator under the usual process with appraisers providing reports. The arbitration can be written submission or by way of oral hearing.
Peter Austin, BSc. AACI, CArb, is a qualified arbitrator and has been in the appraisal business for over 35 years. He specializes in assisting landlord and tenants in rental disputes, arbitrations and property tax assessment reviews and appeals.
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